What does the word Samsung mean?
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In Korean, the word ‘Samsung’ means “three stars” and the name carries the founder Lee Byung-chull’s vision for the company – to shine like stars in the sky, large, strong and eternally shining. The word ‘three’ represents large, plentiful, and strong while ‘star’ means bright, lofty and eternally shining.
Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities, and retail. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee’s death in 1987, Samsung was separated into five business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group, and JoongAng Group.